The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Charlesworth Group Worldwide Limited is a private company limited by shares incorporated in England and Wales. The registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Fixed asset investments are stated at cost less any provisions for diminution in value.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

The company owns 100% of the issued share capital of the companies listed below:

Charlesworth Publishing Services Limited

Charlesworth China Limited (dormant)

Baxco 1009 Limited (dormant)

Baxco 1009B Limited (dormant)

The principal activity of Charlesworth Publishing Services Limited is that of publishing and data services.

The company also owns the whole of the equity of Charlesworth Group (USA) Inc, a sales office registered in the USA.

The company also owns the whole of the equity of Charlesworth Ukraine. The carrying value of the investment is £4,896 (31 Dec 2023: £4,896)

The company also owns the whole of the equity of Charlesworth (Beijing) Information Services Co Ltd, and CWorth Data Services (Beijing) Co Limited, both active companies registered in China and the whole of the issued share capital of Charlesworth Hong Kong Limited, a company registered in Hong Kong. The carrying value of these investments is £387,678 (31 Dec 23: £387,678). The directors have undertaken an impairment review based on earnings and cash flows of these businesses. Based on this, the directors consider that no impairment provision is required and the investments continue to be stated at cost.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Included in debtors are amounts due from Charlesworth Publishing Services Limited of £307,316 (31 Dec 23: £307,204). This debt is unsecured and currently interest free.

Included in creditors falling due within one year are balances owed to the 100% subsidiaries of Charlesworth Group Worldwide Limited, as follows:

Charlesworth China Limited (dormant) - £100 (2023: £100)

Baxco 1009 Limited (dormant) - £1 (2023: £1)

Baxco 1009B Limited (dormant) - £1 (2023: £1)

Charlesworth Group (USA) Inc (dormant) - £1 (2023: £1)

Charlesworth Hong Kong Limited (dormant) - £10 (2023: £10)

The company is a wholly owned subsidiary of Crimson Interactive Private Limited, a company incorporated in India.